When you are ready to sell, here are a few helpful pointers about the process
Request an accurate valuation
The aim should be to sell at the best possible price in the shortest amount of time.
Choose an Agent
The reputation and experience of your agent is paramount, make sure they carry a North Cyprus estate agency licence, a location presence on the high street and ask what kind of marketing your property will receive.
Instructing a lawyer
If you do not plan to be in the country whilst your property is marketed, leaving a POA (power of attorney) with your lawyer or Agent means that everything can be finalised in your absence and your interests are protected. If you are based in the country any sale can be processed within a period of 2-6 weeks depending on buyer timelines.
Presenting your property
Make sure those first impressions count. Declutter to make the rooms look bigger, get those paint jobs done, clean the garden and present your property at its best.
Marketing
When you market with Fraser Properties Cyprus you will immediately benefit from window positioning in our central office, professional photography, colour brochures, company website presence and all our global and local online marketing resources.
Viewings
Marketing with Fraser Properties Cyprus means accompanied viewings by a trained professional. Viewings may take place out of office hours and over weekends so always make sure we have access to your property so we don’t miss an opportunity to view your house. We run a key holding service for those clients who are not in the country.
Receiving an offer
When we receive an offer from a buyer you will receive verbal and written communication to confirm the deal. We will also ascertain what position the buyer is in before you make your decision to proceed or not.
Completing a sale
Once a sale has been agreed the following steps will be taken to complete the deal
- Fraser Properties Cyprus will require a non-refundable deposit of 5%
- Once the deposit is received your property must show as under offer on all agency web-sites until completion
- Completion timelines will be agreed between both parties
- The buyers’ solicitor will draw up a contract of sale and conduct relevant searches
- Once both parties agree to the contractual obligations, the contract is signed and registered and completion usually takes place on the same day with full exchange of monies and possession given
- If you are not in the country you will need to instruct a lawyer by proxy to deal with contract signing and exchange of funds.
Selling Taxes
If this is a first-time sale in North Cyprus then you have a once in a lifetime tax exemption on one property be it land, apartment or villa.
If this is a second property sale in North Cyprus then your tax liability is 2.8% of contract value.
Should you be classed as a professional local seller i.e., sold more than 6 properties in one year then your selling tax liability is 4.7%.
Ready to Sell?
Contact us for a free valuation.
List of Services
- Free Marketing Appraisal / Valuation
- Professional photography and brochure production
- Professional walk-through videos
- Multi-level web-site listings and office advertising
- Key holding facility
- Plumbing, electrical, painters & craftsmen
- Legal and Accountancy advisors
- In house services: assistance with paperwork required for government offices, electric and water name transfers, residency, POA’s and title transfers.